Do you want to set up your own blogging network on the fly and automatically share the ad revenue among the contributors? That’s the premise behind Fair Blogs, a new service from Fair Software. The idea is simple: you organize a blogging network or a virtual company through Fair Software, where each contributor enters their own Google AdSense ID and Fair Software then rotates ads from each members’ account accordng to their ownership share of the blog or blog network.Pretty cool huh?

Fair Software CEO Alain Raynaud explains:

If you have a blog with Google AdSensemaking some money, you can open a project on FairSoftware and hire people. Let’s say you hire one contributor and give him 30% of the project shares.

On your blog, you replace the Google AdSense javascript by a script we provide. Then, every time someone visits your blog, we serve an ad from one of the members of the project, following the share ownership. So in my example, 30% of the time the ad will belong to the new hire. Then Google just pays each person directly.

This is the same model Fair Software has for software projects (minus the Google AdSense part). It launched at TechCrunch 50 with a way to create virtual shares for companies building software, but the model can be applied to other businesses as well. Fair Software offers a quick and dirty way to pull together teams and allocate a portion of revenues based on each person’s contribution.

Fair Blog is a good idea, but limited in its capabilities. At the very least, I’d want to be able to tie the revenue split from AdSense to each blogger’s performance as measured by Google Analytics. So that the percentage each person gets could be based on pageviews and automatically adjust every payout period.

The other thing Fair Blogs needs is to incorporate more ad networks. AdSense is usually the bottom of the barrel in terms of how much it contributes versus other types of blog ad inventory. But it does have the advantage that everybody uses it. Raynaud plans on adding Amazon affiliate accounts next, and then will move on from there.